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will push back on president obama's demand for tax hikes on the rich when it comes to the fiscal cliff. but treasury secretary timothy geithner says the white house will not give in. >> no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember it's only 2%. >> geithner adds the obama administration is, quote, absolutely prepared to go off the cliff, if necessary. joining me now is van jones, cnn contributor and former obama administration official. good morning. >> god morning to you. >> so, van, i guess my first question that's eatsy for geithner to say, we're perfectly willing to go off the fiscal cliff. that means a tax hike on middle class americans and maybe some of them are thinking this morning i'm not really so happy geithner said that. >> it might have been inartful for him to say it the way he said it. i think he is making a very important point, which is that the american people did vote. they voted for the one thing the president said very clearly, which is that tax rates would go up on the wealthiest. it's an
of getting the fiscal cliff deal done before everyone's taxes go up. >> consolation lunch? president obama visits mitt romney to the white house today and everyone is buzzing about it. could obama offer him a job? >> congratulations to someone. you just won the gdp of a small nation. not just one but two winning tickets in last night's record powerball drawing. we'll tell you where. >> and if they will be my best friend soon. we have a packed show. john ba, rasso, adam shif, rick warren, tom cole, connie and mary bono mack and steven holcomb. >> we have so many people coming up. it is thursday, november 2. "starting point" begins right now. >>> good morning, everyone. our starting point this morning, developments happening now in cairo. the u.s. embassy there is closed. no one is being allowed in or out as we speak. >> embassy officials say protesters are blocking the entrance and clashes are happening near nearby. reza sayah is nearby for us. what's happening? >> reporter: there is no indication protesters are targeting the u.s. em wibassy b it was closed as a precaution. these are protes
payment to get to a longer-range solution on entitlements and tax reform? >> there are a lot of options on the table, including that one. >> mr. speaker, before the election, you were asked whether if it obama won taxes would have to go up. and you sounded like you opposed that. now you're acknowledging that they will. >> the day after the election, i came here and made it clear that republicans would put revenue on the table. as a way to begin to move the process to get this resolved. >> right. so my question is, what message do you have for people who look at the negotiating division, and believe that it's inevitable that you'll have to accept some compromise on tax rates? >> the revenue is on the table. but revenue was only on the table if there were serious spending cuts as part of this agreement. it has to be part of the agreement. we have a debt crisis. we're spending too much. and while we're willing to put revenue on the table, we have to recognize, it's the spending that's out of control. >> mr. speaker. roughly what size spending cuts do you think it would take to reach a deal
president obama's attempt to try and do a fiscal cliff deal? >> with $1.6 trillion in new taxes, i think probably half a second. >> when you see the apparent attempt at a bipartisan lunch going on today between obama and romney, it was all very sweet and everything, the reality is the picture was about as uncomfortable as the relationship is between the two sides, and again, frank, how do we get to a better place in washington? how do we get these guys to realize, let me throw this at you. i interviewed mike tyson an hour ago. fantastic interview in many ways. what i found really fascinating and relevant to this, he talks about when he goes back to the streets he grew up in in new york, what real people care about. they care about their homes, he got quite passionate about it. i just don't get that these politicians squabbling in d.c. care about those things enough or they would stop this politicking over things like a fiscal cliff. what do you think, frank? >> they care in largest part about staying in office and one of the problems here is what each individual member of congress thinks
tax revenues. he's also said president obama has an incentive to allow the country to just go on over the fiscal cliff and then blame the republicans for it. just before we went on air tonight, senator max bachus, who chairs the senate finance committee, a democrat, indicated that scenario isn't out of the realm of possibility. listen to how he put it. >> if the other side is completely intransigent that the president has probably no choice but to say, okay, we're going to go over the cliff. that would not be my first preference. >> yeah. the senator pretty serious about that. bottom line, tonight both sides say that talks are stalled. the democrats are turning up the pressure on republicans. in a moment, our political panel will have some fun with this one, certainly about the president's opening offer, but first, congressman lee terry joins me live. i know there's a bit of a delay so i will ask the question, we can wait a moment and i will get your answer. i love it when politicians talk from the hip, especially using colorful language like "we're screwed either way," but i don't un
to get more money from wealthy people. president obama, you know the deal, he wants to raise tax rates for the wealthy. house speaker john boehner wants to close tax loopholes, limit deductions for the wealthy. let's stay on the hill here, let's talk to senior congressional correspondent dana bash. we know the speaker -- we know speaker boehner met with conservative republicans today. did he get any backlash today from his plan? >> reporter: you know what, interestingly it doesn't seem like he did. we know that conservatives are not happy with the idea that their own house republican leadership proposed a plan that includes $800 billion in new revenue. we have seen -- reported on it extensively yesterday and the day before about the e-mail alerts that conservative groups have put out, republican senator jim demint was up-front about the fact he's not happy about it. however, when it comes to speaker boehner's own republican conference, as it is called, we're told they met for an hour and there wasn't backlash, that they were united behind him. it seems as though, brooke, that the speak
. >> the members are going home for a nice long weekend. thanks very much for that. president obama isn't negotiating like we just heard. he's negotiating to raise the tax rates on the rich as a downpayment on a larger deal to come later as far as taxes are concerned and medicare is concerned. >> let's allow higher rates to go up for the top two percent, that includes all of you, yes. but not in anyway that's going to affect your spending, your lifestyles or the economy in any significant way. let's make sure that 98% of americans don't see a single dime in tax increases next year. 97% of small businesses don't see an increase in taxes next year. and by doing that alone, we raise almost a trillion dollars. >> let's bring in our chief political analyst right now, the president also had a specific warning for members of congress, the republicans on the issue of raising the debt ceiling. listen to this. >> if congress in anyway suggests they're going to tie negotiations to debt ceiling votes, and take us to the brink of default once again as part of a budget negotiation, which by the way w
obama's proposal calls for $1.6 trillion in new tax revenue. $50 billion for new stimulus spending. and about $400 billion in entitlement cuts. republicans say, the president's proposal's nothing but a political stunt. here is boehner. >> the white house spends three weeks trying to develop a proposal and they send one up here that calls for $1.6 trillion in new taxes, calls for a little -- not even $400 billion in cuts, and they want to have this extra spending that is actually greater than the amount they're willing to cut. i mean, it is -- it was not a serious proposal. and so right now we're almost nowhere. >> what we will do is continue to take this as a serious matter. this is not a game. we're not interested in playing rope adope. we're interested in trying to solve the problem for the american people so that we don't see taxes go up on anybody, so that we can engage in tax reform, get this economy going again. we're not playing a game. we're being serious. that offer yesterday was simply not serious. >> oh, boy. scrooge, rope-a-dope. where does that leave us after months of
will see their income taxes automatically go up on january 1st. >> reporter: president obama is back on the stump pressing republicans to cut a deal averting the fiscal cliff. >> it's like the lump of coal you get for christmas. it's a scrouge christmas. >> there's a stalemate, let's not kid ourself rs. >> reporter: things got tense after secretary geithner visited capitol hill thursday to present what republicans are calling an unreasonable proposal. it includes $1.6 trillion in new taxes. in part, through raising rates on the top 2%. and lips loopholes and reductions. $50 billion in stimulus next year, and $400 billion in medicare and other entitlement savings to be worked out. >> i think the proposal delivered here by secretary geithner was not a serious proposal. >> they want this extra spending that's greater than the amount willing to cut. >> democrats say it was just a starting point. and one republicans should counter. >> there will be prolonged negotiations. and all of us are going to have to get out of our comfort zones to make that happen. >> cnn learned last week the repu
, which president obama has called a nonstarter. so what if we raised taxes a little bit? still be much lower than what americans paid just a generation ago. in 1980, the wealthiest americans paid a marginal tax rate of 70% of their income to uncle sam. now, tax reform under president reagan reduced that rate to 50% and in 1981, and closer to current levels in 1986. today, president obama wants to let the bush era tax cuts expire for wealthy americans only, taking up their marginal federal tax rate from 36% to 39.6%. we're talking about a 3.6 percentage point uptick for households making more than $250,000 a year, only on every dollar they make above the $250,000 amount. starts 2 s at $251,000. it is on the money you make on the margin. now, while i totally agree every penny counts when it comes to your money, when you compare that to the taxes most americans paid out in past decades, when there was phenomenal economic growth, i don't get why republicans are screaming bloody murder about this 3.6%. what if we were all to chip in a little more. we need taxes, we need government programs,
blitzer. you're in "the situation room." >>> we begin with president obama taking his battle to extend tax cuts for the middle class into the heart of the middle class suburb today. he visited a family just outside washington, d.c., using their story to dramatize what will happen in just 26 days if he and congress can't make a deal on the so-called fiscal cliff. a source of great concern for so many people, everyone's taxes will go up, will go up if there's no deal. let's go live to our white house correspondent dan lothian. he's on the scene for us over at the white house. how did it go, dan? >> reporter: well, wolf, we've seen the president do this before in the past whenever he's locked in negotiations with lawmakers. he heads out on the road, either goes to a backyard or sits down around a dinner table to put pressure on congress. that's what he did today when he went to falls church sitting down with the santana family. their parents who also are employed live in the household with them. so if taxes do go up on middle class americans, the overall hit on that household will be $4,000.
. obama, as you know, is standing very firm on the $1.6 trillion in tax hikes. he is offering $400 billion in cuts from the so-called entitlements but also wants to spend $50 billion on infrastructure. mr. boehner, on the other hand, is offering half -- half of what the president's number is on those taxes and not in what you'd say increases. more like closing of loopholes. he also wants much deeper cuts in entitlements and beyond. so we're watching both ends of pennsylvania avenue this hour. we've got dan lothian who is standing pat at the white house to figure out just exactly what the movements are every day. dana bash is on capitol hill. dan, let me start with you. we were just hearing from the president and we were cut off by a nasty satellite. let me talk about these business people and what exactly they can bring to the table because it seems as though he's soliciting them for advice. >> reporter: he is. but at the same time, you brought up a good point, that the president really has been doing a lot of the pressure as opposed to sitting down with lawmakers face-to-face. he's using
class tax cuts. probably didn't hurt that the cofounder of costco was a big obama contributor. before he left, he used the phone of his cart driver, ivy student, to call her grandmother and leave a message. ivy was so moved but the whole experience, she wiped away tears. >> thanks for shopping with me and i know you won't tell anybody what i bought for christmas. >> here's a hint from nat king cole's classic. the "huffington post" held a caption contest for joe biden's checkout photo. our favorite, stopped by for some fire logs. went home with a flag screen tv. 32 inches. jeanne moos, cnn. ♪ new york. >> we should take cameras around when you do your holiday shopping. you do like costco. way too many products for me. i can't do it. that's right. big news for you. this just in. the missouri lottery will announce the winners of last night's record $578.5 million jackpot tomorrow. those winners will be splitting the jackpot with a ticketholder in arizona. that person has not yet come forward. last night's prize is a largest in power ball history and yes, wolf blitzer flew to missouri over
. president obama says read my lips. there will be new taxes. but first, let's look at the money menu today. december, gift buying time. as you just heard, the stuff you're looking to buy could be stuck at sea. two of the largest shipping ports in the united states are mostly closed. the strike now in its eighth day, affects us all. as nearly 40% of imports flowing into the country are bottlenecking. the ports of los angeles and long beach, california, bring in a lot of hot ticket items that americans buy over the holidays including electronics, clothing and furniture. the national retail federation is urging president obama to step in and end the strike. in a letter to the president, the nrf says, quote, the shutdown is already having a significant negative economic impact on retailers, trying to bring in merchandise for their final push for the holiday sales and will soon have an impact on consumers. now, while i agree the strike will affect consumers eventually, we found that most of the stuff you'll purchase in time to give as gifts for the holiday already passed through the ports betwe
in savings when it comes to tax revenue. but much of that came from raising tax rates for the wealthiest americans, which of course is what president obama campaigned on. so those are the big differences right now. but this certainly is important, wolf, because republicans were saying that they're not even sure that this ball was in their court. clearly they realized it was. so the talks -- there is stalemate no more, put it that way. >> on this key issue of marginal tax rates for the wealthy, the republican offer is keep the tax rates exactly as they are right now, 35% for that 2% wealthiest families making more than $250,000. the obama proposal is raise that rate to 39.6% where it was during the clinton administration. what else is in this new gop proposal? >> reporter: let's show you some of the savings when it comes to government spending. first of all, they put about $600 billion in what the republicans are calling health savings. we understand -- we don't have details. we understand much of that comes from medicare, things that we've heard from republicans over and over like raisin
later. >>> if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. i'm assuming that doesn't sound too good to you. that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> president obama in a factory outside philadelphia today, pushing his financial plan. make no mistake, it's all about your tax bills and if washington can make a deal before you start paying more. with me is democratic strategist marjorie cliften and gerri jacobus. welcome to you both. listening to john boehner today and the president, it's pretty clear there's no deal anywhere near being settled here. i don't know about you, i'm just getting really bored with it. why don't they just get round a table and get it done? let me start with you gerri. >> i think the president going to pennsylvania to the tinker toy plant on a campaign stop essentially is probably not going to go over as well as he thinks it does, particularly since we thought we were done with that. we just went through it a few weeks ago. thought campaign stops we
obama is returning to a tactic that he's used in the past. he's taken the pitch on taxes directly to the american people in a trip to pennsylvania today. house speaker john boehner not so happy about it. let's listen for a minute -- >> listen, this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. campaign-style rallies and one-sided leaks in the press are not the way to get things done here in washington. >> well, republicans are reportedly planning their own fiscal cliff pr campaign designed to show that the democrats are simply digging in, they're being stubborn, election is over, shouldn't both sides be focused on doing the job they were elected to do. how do you see it? >> look, you're going to have a bunch of rallying on both sides and some of this is theatrics. it's christmastime. you know how you tell your kids you have to be really good or santa's not going to give you what you want but you know you will buy them the new ps-3 anyway. that's what's going on. both sides realize it's political death for eithe
for me on the phone, senior congressional correspondent. >>> president obama taking the pr on the road to visit with a middle class family in northern virginia this afternoon and push to preserve the middle class tax cut if the president and congress can't reach a deal you know the story. tax rates for the middle class and everyone else will go up the first of next year. meanwhile, senate minority leader mitch mcconnell prevented a simple majority vote to give the president unilateral power to raise the u.s. debt limit. senator mcconnell is demanding 60 senate votes for passage. president obama pushed for the power transfer in a most recent and main proposal last week on the fiscal cliff. >>> now no john mcafee. the millionaire software guru wanted in questioning in the neighbor's murder in belize. maybe you heard mcafee. got arrested in guatemala overnight. shouldn't come as much of a surprise here. the whole time supposedly on the run, he was handing out tv interviews like candy. but listen to this. now the mcafee is in jail, he is blogging from behind bars. the story just keeps gett
at the center of the fiscal cliff negotiations, tom cole of oklahoma and the man behind the anti-tax pledge, grover norquist will both be "outfront." the new film called zero dark 30 based often the raid that killed osama bin ladin and some charge the obama administration gave the producers certain access. thanks for joining us. and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. the distances aren't getting shorter. ♪ the trucks are going farther. the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! thanks. when you take a closer look... ...at the best schools in the world... ...you see
in self defense. >>> republicans took the bait. they delivered a counter proposal to president obama's plan to avert the fiscal cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not offer a counter proposal, right? what's going on here? >> reporter: well, you know, i think the white house is digging in. the president said early on in this process that he would only sit down and really move forward, negotiate on this in any meaningful way if the t
with president obama's latest ideas for getting past the standoff with house republicans. he now says there isn't enough time left to do a comprehensive deal, including tax reform, fixing medicare. so he wants congress to raise tax rates for the wealthy right now and putting off the hard work to next year. they have 28 days left to make a deal before the country hits what's called the fiscal cliff. that's a combination of across the board tax increases for everyone, coupled with cuts in spending like defense, education, health care, and housing assistance. let's go live to our chief white house correspondent jessica yellin with the very latest. jessica? >> reporter: president obama has now personally turned down speaker boehner's opening offer to avert the fiscal cliff. he did it in a tv interview. what does president obama think of speaker boehner's proposal to avert the fiscal cliff? >> unfortunately, the speaker's proposal right now is still out of balance. he talks about $800 billion worth of revenues but says he's going to do that by lowering rates. when you look at the math, it doesn't wo
Search Results 0 to 21 of about 22 (some duplicates have been removed)